Blog

Public Vs Private Blockchains | Amit Modi

There is a big diﬀerence in what technologies you need, depending on whether you allow anyone to write to your blockchain, or known, vetted participants. Bitcoin allows anyone to write to its ledger.

Private blockchains
Conversely, a ‘private’ blockchain network is where the participants are known and trusted: for example, an industry group, or a group of companies owned by an umbrella company.

Many of the mechanisms aren’t needed – or rather they are replaced with legal contracts.
This changes the technical decisions as to which bricks are used to build the solution.

Public blockchains

Ledgers can be ‘public’ in two senses:
1. Anyone, without permission granted by another authority, can write data

2. Anyone, without permission granted by another authority, can read data

Usually, when people talk about public blockchains, they mean anyone-can-write.

Because bitcoin is designed as a ‘anyone-can-write’ blockchain, where participants aren’t vetted and can add to the ledger without needing approval, it needs ways of arbitrating discrepancies (there is no ‘boss’ to decide), and defence mechanisms against attacks (anyone can misbehave with relative impunity, if there is a ﬁnancial incentive to do so). These create cost and complexity to running this blockchain.

9 Comments

There are Various ways to create a Private Block chain. Do you need it for Development purpose or you need to setup you business over there? If you need further assistance I can setup you call with our development team.

There are Various ways to create a Private Block chain. Do you need it for Development purpose or you need to setup you business over there? If you need further assistance I can setup you call with our development team.

I’ve been browsing on-line greater than three hours as of late, but I by no means discovered any attention-grabbing article like yours. It?¦s beautiful value enough for me. In my view, if all web owners and bloggers made good content material as you did, the net might be a lot more useful than ever before.

I simply want to say I’m all new to blogs and really savored you’re blog. Probably I’m planning to bookmark your site . You definitely come with amazing well written articles. With thanks for revealing your blog.